Wait | 30 October 2018

30 October 2018, GBP/USD

Technical observation

GBP/USD is still rallying towards the support 1.2693 and I expect either a clear breakout below it with a big red candle or a rejection at it followed by a correction to the zone 1.3317-1.3281.In case of a correction to 1.3317-1.3281, wait for a rejection within it then to re-sell this pair with your take profit at 1.2693 and stop loss slightly above 1.3317 and in case there’s no rejection within the above mentioned zone but a clear penetration above it with a big green candle, I’ll wait for a confirmation of bullish movement of GBP before I buy this pair. Should there be a breakout below 1.2693, wait for a retracement to it before you sell GBP.

Technical levels

Resistance levels

R1.1.2855

R2.1.2881

R3.1.2946

Pivot

1.2818

Support levels

S1.1.279

S2.1.2751

S3.1.2686

Trade signal

Wait for either a correction to 1.3317-1.3281 or a breakout below 1.2693 to sell GBP.

Do you know against which currencies GBP is the most profitable?

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Imelda Maseno
Analyst of «FreshForex» company
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